An Agenda for a Democratic Economy

David Cayla

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Abstract: The 2008 financial crisis and environmental issues are driving a profound change in economic governance. Over the last few decades, economic management has been marked by the neoliberal doctrine, which tends to use market forces as a tool for valuation, and to put the state at the service of the smooth running of the market. However, since the subprime crisis, interest rates have been placed under the strict surveillance of central banks through quantitative easing policies. Other events, such as the European energy crisis of 2022, show that market prices sometimes have to be circumvented. This article aims to define the principles of neoliberal governance and explain why it is in crisis today. It then sets out to develop four principles for a democratic economy, aimed at rearranging the relationship between the state and the market.

Keywords: Neolibelarism; Neoliberal governance; Institutional economics; Democratic economy (search for similar items in EconPapers)
Date: 2024-06-10
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-04620437v1
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Published in Journal of Economic Issues, 2024, 58 (2), pp.556-563. ⟨10.1080/00213624.2024.2344437⟩

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Journal Article: An Agenda for a Democratic Economy (2024)
Working Paper: An Agenda For a Democratic Economy (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-04620437

DOI: 10.1080/00213624.2024.2344437

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